Natixis — Groupe BPCE — FY2021 Earnings Presentation
80 slides from Natixis's earnings presentation, Feb 10, 2022
Slide 1: Results for Q4 and full year 2021
Results for Q4 and full year 2021 February 10, 2022
Slide 2: Disclaimer
Disclaimer This presentation may contain forward-looking statements and comments relating to the objectives and strategy of Groupe BPCE. By their very nature, these forward-looking statements inherently depend on assumptions, project considerations, objectives and expectations linked to future event
Slide 3: High 2021 set of results delivered in a favorable economic environment
High 2021 set of results delivered in a favorable economic environment and during a year of major transformation and simplification Net income(1) at €4bn Strong growth across all business lines, strong commercial dynamism Revenues Group revenues: €25.7bn, +14.1% vs. 2020 and +5.8% vs. 2019 Operating
Slide 4: A year of transformation: a simplified and unified Group
A year of transformation: a simplified and unified Group, ready for the next stages in its development Transitioning towards a simpler, more agile and efficient organization… Delisting of Natixis, enabling the Group to become Europe's front-ranking unlisted banking group and to further strengthen
Slide 5: A simplified organization in support of Groupe BPCE's growth dynamic
A simplified organization in support of Groupe BPCE's growth dynamic Structure before simplification New organizational structure Banques Caisses Populaires d’Epargne Banques Caisses Populaires d’Epargne 50% 50% 50% 50% BPCE S.A. BPCE S.A. FSE 71% 29% Natixis S.A. Float Natixis SA Global Natixis IM
Slide 6: Groupe BPCE results, Capital and liquidity, Business line results
1 Groupe BPCE results 2 Capital and liquidity 3 Business line results 4 Conclusion 6 RESULTS FOR Q4 AND FULL YEAR 2021
Slide 7: Q4-21 & 2021 results
Q4-21 & 2021 results Net income(1) at €4bn in 2021 Strong revenue momentum across all business lines and improved cost to income ratio(2) at 66.1% €m Q4-21 % Change % Change 2021 % Change % Change vs.Q4-20 vs.Q4-19 vs.2020 vs.2019 Net banking income 6,967 10.5% 10.6% 25,716 14.1% 5.8% (3) Operating
Slide 8: Q4-21 & 2021 results – Cost of risk/Asset quality
Q4-21 & 2021 results – Cost of risk/Asset quality Cost of risk at €1.8bn down 40.5% vs. 2020 and +30.4% vs. 2019 Pursued prudent provisioning policy with additional S1/S2 provisions booked in Q4-21 COST OF RISK(1) S1/S2 S3 (in bps) 45 49 34 35 TOTAL PROVISIONS (in €bn) 13 20 23 25 24 13.8 21 18 21 1
Slide 9: Digital & Data
Digital & Data Increased use of data and digital solutions by our customers and advisers Data and digital solutions serving the needs of our customers and advisers End-2021 key figures DATA – A TRUST-BASED RELATIONSHIP WITH OUR CUSTOMERS 11.8 million Since end-2021, 8.8m active mobile customers have
Slide 10: Climate change / ESG: clear strategic priorities
Climate change / ESG: a long-term commitment and clear strategic priorities The Group has defined climate change as a priority action area for all its business lines and companies 2024 OBJECTIVES 2.5°C 2.2°C 1.5°C 2°C 1.5°C #1 COMMITMENT TO ALIGN THE GROUP'S PORTFOLIOS WITH A "NET ZERO" EMISSIONS TR
Slide 11: Climate change / ESG: significant achievements in 2021
Climate change / ESG: a long-term commitment and clear strategic priorities Significant achievements in 2021 and a recognized commitment July Commitment Groupe BPCE joins its peers in the Net Zero Banking Alliance (NZBA), a United Nations Environment Programme financial initiative Sept. Energy Obser
Slide 12: Climate change / ESG: a responsible and innovative Group
Climate change / ESG: a long-term commitment and clear strategic priorities A responsible and innovative Group ʘ Issuance in 2021 of €5bn in green bonds and almost €0.9bn in social bonds Sustainable €12.1bn in green, transition and social bonds outstandings as of December 31, 2021 bond issues ʘ Issu
Slide 13: Groupe BPCE results, Capital and liquidity, Business line results
1 Groupe BPCE results 2 Capital and liquidity 3 Business line results 4 Conclusion 13 RESULTS FOR Q4 AND FULL YEAR 2021
Slide 14: Capital and Loss-absorbing Capacity
Capital and Loss-absorbing Capacity High capital and TLAC/MREL positions, well above requirements CHANGE IN THE CET1 RATIO (in bps) Organic capital creation = 31bps 2022 Actual levels requirements as at +85bps Dec. 31, 2021(1) +25bps 16.0% +20bps 15.8%(1) CET1 ratio 9.51%(2) 15.8% (54)bps (ECB) (74)
Slide 15: Liquidity: 2021 funding plan fully executed
Liquidity: 2021 funding plan fully executed with partial prefunding of 2022 TLAC funding needs; 33% of 2022 funding plan already raised 2021 MLT wholesale funding ʘ Target: €22bn(1,2) / Raised(1): €24bn or 109% Structure of MLT wholesale funding(4) • TLAC funding raised in 2021 Target: €5.5bn / Rais
Slide 16: Groupe BPCE results, Capital and liquidity, Business line results
1 Groupe BPCE results 2 Capital and liquidity 3 Business line results 4 Conclusion 16 RESULTS FOR Q4 AND FULL YEAR 2021
Slide 17: Retail Banking & Insurance
Retail Banking & Insurance Continued strong commercial performance and large positive jaws effect across all business lines Loan outstandings: €650bn, +6.2% YoY On-balance sheet deposits & savings(1): o/w residential mortgages +7.6% YoY €553bn, +6.0% YoY o/w consumer loans +7.0% YoY o/w sight deposi
Slide 18: Retail Banking & Insurance – Banques Populaires
Retail Banking & Insurance – Banques Populaires Sharp increase in GOI: +18.4% in 2021, expenses well under control LOAN OUTSTANDINGS - in €bn - DEPOSITS & SAVINGS PRODUCTION +6.3% +7.5% P&C – Individual customers 347 410 +20% In thousands of contracts 276 323 343 260 20 17 Off-balance sheet D&S 85 7
Slide 19: Retail Banking & Insurance – Caisses d'Epargne
Retail Banking & Insurance – Caisses d’Epargne Strong increase in GOI: +7.8% in 2021, tight control of expenses LOAN OUTSTANDINGS - in €bn - DEPOSITS & SAVINGS PRODUCTION +4.0% 496 +6.4% 477 630 P&C – Individual customers 556 +13% In thousands of contracts 336 137 141 316 Off-balance sheet D&S 10 9.
Slide 20: Retail Banking & Insurance – Financial Solutions & Expertise
Retail Banking & Insurance – Financial Solutions & Expertise Solid results thanks to good commercial performance in all FSE businesses combined with good risk management Business activities Breakdown of revenues per business line in 2021 ʘ Consumer credit: good momentum with new production up 19% vs
Slide 21: Retail Banking & Insurance – Insurance
Retail Banking & Insurance – Insurance Scope: Insurance division of Natixis Strong commercial momentum and solid results Premiums(1) In €bn Life insurance AuMs(1) Share of UL products – 2021 14.3 + 32 % + 12 % YTD +8% YoY share of UL +3pp +3pp + 22 % 10.8 3.6 €81.3bn €11.3bn 2.9 + 12 % 1.9 3.6 €23.9
Slide 22: Retail Banking & Insurance – Payments / Oney Bank
Retail Banking & Insurance – Payments / Oney Bank PAYMENTS Scope: Payments division of Natixis Net revenues: +13.9% despite sanitary crisis impacts remaining in 2021 ʘ Payment Processing & Services: revenues +13% in 2021 Underlying figures(2) Q4-21 % change 2021 % change Number of card transactions
Slide 23: Global Financial Services
Global Financial Services Sustained growth in revenues and low cost of risk Net revenues: +24.4% YoY in Q4-21 and +26.6% in 2021 Underlying figures(1) Q4-21 % 2021 % Constant Sustained commercial activity in a favorable economic and financial €m change change Fx % environment change ʘ AWM: revenues
Slide 24: Global Financial Services – Asset & Wealth Management
Global Financial Services – Asset & Wealth Management Sustained growth in revenues and income before tax Underlying figures(1) Q4-21 % change 2021 % change Constant FX Q4-21 % change 2021 % change Constant €m % change FX % change Net banking income 1,366 34.9% 3,800 22.7% 25.0% incl. 1,400 39.5% 3,9
Slide 25: Global Financial Services – Asset Management
Global Financial Services – Asset Management AuM growth and fee rate Assets under management(1) (in €bn) Q4-21 AM fee rate (excluding performance fees) (in bps. Figures excluding H2O AM) 1,245 ~43 ~39 Controlled affiliates WCM IM 11 (+ 0.8 bp vs. Q4-20) 20 ~35 94 6 9 1,199 ~25 87 833 1,151 1,113 ~3
Slide 26: Global Financial Services – Corporate & Investment Banking
Global Financial Services – Corporate & Investment Banking Very strong commercial activity across the board and improved cost of risk Net revenues continued to exhibit solid momentum on the back of strong Net revenues(1) (in €m) 3,688 commercial activity and off a low base for the whole of the year
Slide 27: Groupe BPCE results, Capital and liquidity, Business line results
1 Groupe BPCE results 2 Capital and liquidity 3 Business line results 4 Conclusion 27 RESULTS FOR Q4 AND FULL YEAR 2021
Slide 28: Conclusion
Conclusion 2021: a year of major transformation and simplification, paving the way for a new stage in Groupe BPCE’s development Groupe BPCE has been since its creation a major player in the financing of the French economy (22.0% market share (1)), has provided strong support to its customers during
Slide 29: Annexes
Annexes 29 RESULTS FOR Q4 AND FULL YEAR 2020
Slide 30: Content
Annexes Content Consolidated results of Groupe BPCE Retail Banking & Insurance ʘ Note on methodology ʘ Income statement and quarterly series ʘ Reconciliation of restated data to reported data ʘ Banque Populaire and Caisse d’Epargne – quarterly series ʘ Income statement: reconciliation of alternative
Slide 31: Note on methodology (1/4)
Annexes Note on methodology (1/4) Presentation of restated and pro-forma quarterly Simplified Public Tender Offer on Natixis shares results On February 9, 2021, BPCE SA announced its intent to acquire the Following the announcement on February 25, 2020 of the sale of a 29.5% shares in Natixis SA’s c
Slide 32: Note on methodology (2/4)
Annexes Note on methodology (2/4) Net banking income Cost of risk Customer net interest income, excluding regulated home savings The cost of risk is expressed in basis points and measures the level of risk schemes, is computed on the basis of interest earned from transactions per business line as a
Slide 33: Note on methodology (3/4)
Annexes Note on methodology (3/4) Total loss-absorbing capacity Liquidity The amount of liabilities eligible for inclusion in the numerator used Total liquidity reserves comprise the following: to calculate the Total Loss-Absorbing Capacity (TLAC) ratio is ʘ Central bank-eligible assets include: ECB
Slide 34: Note on methodology (4/4)
Annexes Note on methodology (4/4) Digital indicators The percentage of consumer loans initiated via digital pathways is the The number of support documents collected and automatically verified is number of consumer loans initiated via digital pathways that have the number of support documents transm
Slide 35: Reconciliation of restated data to reported data
Annexes Reconciliation of restated data to reported data GROUPE GROUPE GROUPE BPCE BPCE BPCE In millions of euros 2021 Coface 2021 2020 Coface 2020 Q4-20 Coface Q4-20 Reported Restated reported restated reported restated Net banking income 25,716 25,716 22,540 22,540 6,303 6,303 Operating expenses (
Slide 36: Q4-21 results: reconciliation of alternative performance measures
Annexes Q4-21 results: reconciliation of alternative performance measures to restated data Net Operating Share in Income Net banking expenses net before tax income income income of - Group In millions of euros associates share Restated Q4-21 results 6,967 (4,916) (7) 1,360 819 Revaluation of assets
Slide 37: 2021 results: reconciliation of alternative performance measures
Annexes 2021 results: reconciliation of alternative performance measures to restated data Net Operating Share in net Income Net banking expenses income of before income income associates tax - Group In millions of euros share Restated 2021 results 25,716 (17,840) 212 6,224 3,998 Revaluation of asset
Slide 38: Q4-20 results: reconciliation of alternative performance measures
Annexes Q4-20 results: reconciliation of alternative performance measures to restated data Net Operating Cost of Gains or Income Net banking expenses risk losses on before tax income income other - Group assets share excluding In millions of euros Coface Restated Q4-20 results 6,303 (4,356) (924) (2
Slide 39: 2020 results: reconciliation of alternative performance measures
Annexes 2020 results: reconciliation of alternative performance measures to restated data Net Operating Cost of Share in Gains or Income Net banking expenses risk net income losses on before tax income income of other - Group associates assets share excluding In millions of euros Coface Restated 202
Slide 40: Reconciliation of 2020 data to pro forma data (1/2)
Annexes Reconciliation of 2020 data to pro forma data (1/2) Retail banking and Q1-20 Q2-20 Q3-20 Q4-20 Insurance Net Net Net Net In millions of euros Operating Income Operating Income Operating Income Operating Income banking Net income banking Net income banking Net income banking Net income expens
Slide 41: Reconciliation of 2020 data to pro forma data (2/2)
Annexes Reconciliation of 2020 data to pro forma data (2/2) Corporate center Q1-20 Q2-20 Q3-20 Q4-20 Net Net Net Net In millions of euros Operating Income Operating Income Operating Income Operating Income banking Net income banking Net income banking Net income banking Net income expenses before ta
Slide 42: Exceptional items per business line
Annexes Exceptional items per business line GLOBAL RETAIL BANKING CORPORATE GROUPE FINANCIAL & INSURANCE CENTER BPCE SERVICES In millions of euros Q4-21 Q4-20pf Q4-21 Q4-20pf Q4-21 Q4-20pf Q4-21 Q4-20pf Impact of exceptional items (excl. Coface) on Income (91) (111) (76) (58) (105) (25) (272) (193)
Slide 43: Exceptional items per business line
Annexes Exceptional items per business line GLOBAL RETAIL BANKING CORPORATE GROUPE FINANCIAL & INSURANCE CENTER BPCE SERVICES In millions of euros 2021 2020pf 2021 2020pf 2021 2020pf 2021 2020pf Impact of exceptional items (excl. Coface) on Income (153) (324) (126) (104) (232) (186) (512) (614) befo
Slide 44: Groupe BPCE: underlying cost to income ratio excluding SRF
Annexes Groupe BPCE: underlying cost to income ratio excluding SRF Net banking Operating Cost income ratio In millions of euros income expenses 2021 reported figures 25,716 (17,840) Impact of exceptional items (4) (423) SRF (421) 2021 underlying figures 25,720 (16,995) 66.1% excluding SRF Net bankin
Slide 45: Restated quarterly income statement per business line
Annexes Groupe BPCE: restated quarterly income statement per business line RETAIL BANKING GLOBAL FINANCIAL CORPORATE GROUPE & INSURANCE SERVICES CENTER BPCE In millions of euros Q4-21 Q4-20pf Q4-21 Q4-20pf Q4-21 Q4-20pf Q4-21 Q4-20pf % Net banking income 4,391 4,276 2,348 1,888 227 139 6,967 6,303 1
Slide 46: Restated income statement per business line
Annexes Groupe BPCE: restated income statement per business line RETAIL BANKING GLOBAL FINANCIAL CORPORATE GROUPE & INSURANCE SERVICES CENTER BPCE In millions of euros 2021 2020pf 2021 2020pf 2021 2020pf 2021 2020pf % Net banking income 17,502 16,460 7,571 5,997 643 84 25,716 22,540 14.1% Operating
Slide 47: Groupe BPCE: restated quarterly series
Annexes Groupe BPCE: restated quarterly series GROUPE BPCE In millions of euros Q1-20pf Q2-20pf Q3-20pf Q4-20pf 2020pf Q1-21 Q2-21 Q3-21 Q4-21 2021 Net banking income 5,543 5,183 5,511 6,303 22,540 6,117 6,337 6,295 6,967 25,716 Operating expenses (4,546) (3,837) (3,905) (4,356) (16,644) (4,655) (4,
Slide 48: Consolidated balance sheet
Annexes Consolidated balance sheet ASSETS LIABILITIES Dec. 31, 2021 Dec. 31, 2020 (in millions of euros) Dec. 31, 2021 Dec. 31, 2020 (in millions of euros) Cash and amounts due from central banks 186,317 153,403 Amounts due to central banks 6 Financial assets at fair value through profit or loss 198
Slide 49: Statement of changes in shareholders' equity
Annexes Statement of changes in shareholders' equity Equity attributable to equity In millions of euros holders of the parent December 31, 2020 72,683 Distributions (324) Capital increase (cooperative shares) 1,041 Impact of acquisitions and disposals on non-controlling interests (minority interests
Slide 50: Goodwill
Annexes Goodwill Other 12/31/2020 Disposals Conversion 12/31/2021 In millions of euros changes Retail Banking & Insurance entities 1,049 (2) 1,047 Asset & Wealth Management entities 3,123 30 (5) 104 3,253 Corporate & Investment Banking 135 9 143 entities Total 4,307 30 (7) 113 4,443 50 RESULTS FOR T
Slide 51: Financial structure: changes in regulatory capital and fully-loaded ratios
Annexes Financial structure: changes in regulatory capital and fully-loaded ratios Reconciliation of shareholders’ equity to total capital Regulatory capital (in €bn) 78.2 82.7 In billions of euros Dec. 31, 2021 Dec. 31, 2020 9.2 12.9 Equity attribuable to equity holders of the parent 78.9 72.7 27.9
Slide 52: Financial structure: MDA trigger threshold
Annexes Financial structure: MDA trigger threshold Capital Capital Pillar I Pillar II conservation G-SIB Countercyclical Pillar I Pillar II conservation G-SIB Countercyclical 12/31/2020 requirement requirement buffer buffer buffer Total 2022 requirement requirement buffer buffer buffer Total SREP CE
Slide 53: Financial structure: prudential ratios and credit ratings
Annexes Financial structure: prudential ratios and credit ratings Long-term SENIOR PREFERRED credit ratings Dec. 31, 2021(1) Dec. 31, 2020 Dec. 31, 2019 (February 10, 2022) Total risk-weighed assets €441bn €431bn €422bn A+ negative outlook Common Equity Tier-1 capital €69.8bn €69.0bn €66.0bn Tier-1
Slide 54: TLAC / MREL ratio
Annexes TLAC / MREL ratio TLAC(1,2) RATIO (as a % of risk-weighted assets) MREL(1,2) RATIO (as a % of risk-weighted assets) 31.1% 6.4% 25.0% 24.8% 21.5% Eligible Senior Preferred debt 5.1% 5.1% Senior Non-Preferred 3.9% Senior Non-Preferred 3.9% Tier 2 Tier 2 Additional Tier 1 Additional Tier 1 CET1
Slide 55: Risk-Weighted Assets
Annexes Risk-Weighted Assets BREAKDOWN PER BUSINESS LINE (in €bn) BREAKDOWN PER TYPE OF RISK(1) (in €bn) 431 441 431 441 13% 10% Other 9% 9% 3% 3% 19% 20% Global Financial Services Operational Risk Retail Banking & 88% Market Risk 88% 68% 70% Insurance Credit Risk Dec. 31, 2020 Dec. 31, 2021 Dec. 31
Slide 56: Leverage ratio
Annexes Leverage ratio(1) In billions of euros Dec. 31, 2021 Dec. 31, 2020 Tier-1 capital 69.8 69.0 Balance sheet total 1,516.0 1,446.3 Prudential restatements (130.5) (119.5) Prudential balance sheet total(1) 1,385.5 1,326.8 Adjustments related to exposure to derivates (3) (17.4) (32.5) Adjustments
Slide 57: Financial conglomerate
Annexes Financial conglomerate FINANCIAL CONGLOMERATE RATIO CRR/CRD IV(2) viewpoint Restatements Financial conglomerate +3.6 viewpoint Banking CR (1) (CRR/CRD IV) Regulatory capital + Total capital Insurance CR(1) (Solvency 2) (in €bn) 82.7 82,7 86,3 86,3 86.3 RESTATEMENTS APPLIED - 1 2 3 +4.9 65.8
Slide 58: Liquidity reserves and short-term funding
Annexes Liquidity reserves and short-term funding TOTAL LIQUIDITY RESERVES OF GROUPE BPCE(1) SHORT-TERM FUNDING AND MLT DEBT MATURING (in €bn) IN THE SHORT TERM (in €bn) Coverage ratio of short-term funding + MLT debt maturing in the short-term by liquidity reserves(2) 329 307 246% 247% 155% 231 146
Slide 59: Retail Banking & Insurance: quarterly income statement
Annexes Retail Banking & Insurance: quarterly income statement BANQUE CAISSE FINANCIAL SOLUTIONS OTHER RETAIL BANKING POPULAIRE D'EPARGNE INSURANCE PAYMENTS & EXPERTISE NETWORKS & INSURANCE NETWORK NETWORK Q4-21 Q4-20pf % Q4-21 Q4-20pf % Q4-21 Q4-20pf % Q4-21 Q4-20pf % Q4-21 Q4-20pf % Q4-21 Q4-20pf
Slide 60: Retail Banking & Insurance: income statement
Annexes Retail Banking & Insurance: income statement BANQUE CAISSE FINANCIAL SOLUTIONS OTHER RETAIL BANKING POPULAIRE D'EPARGNE INSURANCE PAYMENTS & EXPERTISE NETWORKS & INSURANCE NETWORK NETWORK 2021 2020pf % 2021 2020pf % 2021 2020pf % 2021 2020pf % 2021 2020pf % 2021 2020pf % 2021 2020pf % In mil
Slide 61: Retail Banking & Insurance: quarterly series
Annexes Retail Banking & Insurance: quarterly series RETAIL BANKING & INSURANCE Q1-20 pf Q2-20 pf Q3-20 pf Q4-20 pf 2020 pf Q1-21pf Q2-21pf Q3-21pf Q4-21 2021 In millions of euros Net banking income 4,076 4,010 4,098 4,276 16,460 4,298 4,420 4,393 4,391 17,502 Operating expenses (2,794) (2,577) (2,6
Slide 62: Banque Populaire and Caisse d'Epargne networks quarterly series
Annexes Retail Banking & Insurance: Banque Populaire and Caisse d’Epargne networks quarterly series BANQUE POPULAIRE NETWORK Q1-20 pf Q2-20 pf Q3-20 pf Q4-20 pf 2020 pf Q1-21 pf Q2-21 pf Q3-21 pf Q4-21 2021 In millions of euros Net banking income 1,572 1,483 1,588 1,672 6,315 1,669 1,738 1,736 1,725
Slide 63: Retail Banking & Insurance
Annexes Retail Banking & Insurance DEPOSITS & SAVINGS (in €bn) LOAN OUTSTANDINGS (in €bn) Change YoY Change YoY 861.2 816.0 +5.5% +6.2% 650.2 266.6 612.3 248.9 +7.1% Sight deposits 364.7 +5.8% Passbook savings accounts 338.8 212.0 200.3 +0.3% Regulated home savings plans +11.6% Term accounts Residen
Slide 64: Retail Banking & Insurance: Banque Populaire network
Annexes Retail Banking & Insurance: Banque Populaire network DEPOSITS & SAVINGS (in €bn) LOAN OUTSTANDINGS (in €bn) Change YoY Change YoY 347.2 +7.5% +6.3% 322.9 137.1 125.7 276.4 Sight deposits 259.9 +9.1% +9.4% Passbook savings accounts 68.9 Regulated home savings plans 153.8 63.0 +0.7% 141.9 22.1
Slide 65: Retail Banking & Insurance: Caisse d'Epargne network
Annexes Retail Banking & Insurance: Caisse d’Epargne network DEPOSITS & SAVINGS (in €bn) LOAN OUTSTANDINGS (in €bn) Change YoY Change YoY 495.6 +4.0% +6.4% 476.7 120.1 114.5 335.9 Sight deposits 315.8 + 4.9% 141.9 +4.2% Passbook savings accounts 136.3 +0.1% Regulated home savings plans 191.8 206.5 +
Slide 66: Retail Banking & Insurance: FSE quarterly series
Annexes Retail Banking & Insurance: FSE quarterly series FINANCIAL SOLUTIONS & EXPERTISE Q1-20 pf Q2-20 pf Q3-20 pf Q4-20 pf 2020 pf Q1-21 pf Q2-21 pf Q3-21 pf Q4-21 2021 In millions of euros Net banking income 288 262 284 300 1,134 295 302 303 301 1,200 Operating expenses (159) (141) (150) (154) (6
Slide 67: Retail Banking & Insurance: Insurance quarterly series
Annexes Retail Banking & Insurance: Insurance quarterly series INSURANCE Q1-20 Q2-20 Q3-20 Q4-20 2020 pf Q1-21 Q2-21 Q3-21 Q4-21 2021 In millions of euros pf pf pf pf pf pf pf Net banking income 222 229 221 233 904 240 252 229 243 964 Operating expenses (134) (116) (117) (123) (490) (138) (124) (120
Slide 68: Retail Banking & Insurance: Payments quarterly series
Annexes Retail Banking & Insurance: Payments quarterly series PAYMENTS Q1-20 pf Q2-20 pf Q3-20 pf Q4-20 pf 2020 pf Q1-21 pf Q2-21 pf Q3-21 pf Q4-21 2021 In millions of euros Net banking income 113 85 117 115 430 117 118 126 129 489 Operating expenses (93) (94) (97) (102) (386) (103) (101) (103) (117
Slide 69: Retail Banking & Insurance: Other networks quarterly series
Annexes Retail Banking & Insurance: Other networks quarterly series OTHER NETWORKS Q1-20 pf Q2-20 pf Q3-20 pf Q4-20 pf 2020 pf Q1-21 pf Q2-21 pf Q3-21 pf Q4-21 2021 In millions of euros Net banking income 197 189 184 189 760 181 187 184 190 741 Operating expenses (141) (123) (127) (146) (537) (125)
Slide 70: Global Financial Services: restated quarterly income statement
Annexes Global Financial Services: restated quarterly income statement per business line CORPORATE & ASSET AND WEALTH GLOBAL FINANCIAL INVESTMENT MANAGEMENT SERVICES BANKING In millions of euros Q4-21 Q4-20pf Q4-21 Q4-20pf Q4-21 Q4-20pf % Net banking income 1,400 1,003 948 885 2,348 1,888 24.4% Oper
Slide 71: Global Financial Services: restated income statement per business line
Annexes Global Financial Services: restated income statement per business line CORPORATE & ASSET AND WEALTH GLOBAL FINANCIAL INVESTMENT MANAGEMENT SERVICES BANKING In millions of euros 2021 2020pf 2021 2020pf 2021 2020pf % Net banking income 3,921 3,226 3,651 2,770 7,571 5,997 26.3% Operating expens
Slide 72: Global Financial Services: restated quarterly series
Annexes Global Financial Services: restated quarterly series GLOBAL FINANCIAL SERVICES Q1-20pf Q2-20pf Q3-20pf Q4-20pf 2020 pf Q1-21 pf Q2-21 pf Q3-21 pf Q4-21 2021 In millions of euros Net banking income 1,454 1,215 1,439 1,888 5,997 1,698 1,766 1,758 2,348 7,571 Operating expenses (1,140) (1,017)
Slide 73: Asset & Wealth Management: restated quarterly series
Annexes Asset & Wealth Management: restated quarterly series ASSET & WEALTH MANAGEMENT Q1-20 pf Q2-20 pf Q3-20 pf Q4-20 pf 2020 pf Q1-21 pf Q2-21 pf Q3-21 pf Q4-21 2021 In millions of euros Net banking income 774 705 745 1,003 3,226 773 851 896 1,400 3,921 Operating expenses (581) (539) (577) (698)
Slide 74: Corporate & Investment Banking: restated quarterly series
Annexes Corporate & Investment Banking: restated quarterly series CORPORATE & INVESTMENT BANKING Q1-20 pf Q2-20 pf Q3-20 pf Q4-20 pf 202 0pf Q1-21 pf Q2-21 pf Q3-21 pf Q4-21 2021 En millions d’euros Net banking income 680 511 695 885 2,770 925 915 862 948 3,651 Operating expenses (559) (478) (512) (
Slide 75: Corporate center: restated quarterly series
Annexes Corporate center: restated quarterly series CORPORATE CENTER Q1-20pf Q2-20pf Q3-20pf Q4-20pf 2020 Q1-21 Q2-21 Q3-21 Q4-21 2021 In millions of euros Net banking income 13 (42) (26) 139 84 121 151 144 227 643 Operating expenses (612) (244) (197) (286) (1,339) (711) (255) (227) (337) (1530) Gro
Slide 76: Performing & non-performing loans and impairment
Annexes Performing & non-performing loans and impairment In billions of euros Dec. 31, 2021 Dec.31, 2020 Gross outstanding loans to customers and credit institutions 889.0 850.4 O/w S1 outstandings 788.2 764.6 O/w S2 outstandings 79.2 64.3 O/w S3 outstandings 21.6 21.5 Non-performing loans/gross out
Slide 77: Cost of risk by business lines
Annexes Cost of risk by business lines COST OF RISK(1) (in bps) 49 48 40 16 17 25 20 18 20 22 19 15 33 6 30 22 20 BP network 5 12 3 18 2 2 21 45 37 5 21 19 26 16 15 8 17 7 41 11 11 22 12 10 14 8 10 15 CE network 5 -2 7 45 49 13 34 21 20 23 25 18 21 16 17 26 10 36 20 19 17 RB&I 5 13 5 -1 4 18 163 123
Slide 78: Asset quality: limited exposures to sensitive sectors
Annexes Asset quality: limited exposures to sensitive sectors Diversified portfolio Exposure to sectors considered to be sensitive Breakdown of Group gross exposure per Corporate and small business Group exposures(2) counterparty at December 31, 2021(1) % % Gross % Total Group State- % Corporate cus
Slide 79: Breakdown of gross exposure at December 31, 2021
Annexes Breakdown of gross exposure at December 31, 2021(1) BREAKDOWN PER GEOGRAPHICAL REGION Financial institutions/local governments Central administrations/ Corporate customers Central banks and other sovereign exposures 4% 1% 3% 1% 7% 4% 2% 8% 6% 11% 24% 16% 14% 71% 59% 69% France Centralization
Slide 80: groupebpce.com
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